Truist Financial Corp Sells 16,814 Shares of Halliburton Company $HAL

Key Points

• Truist Financial Corp reduced its holdings in Halliburton by 16.4%, selling 16,814 shares and leaving them with a total of 85,995 shares valued at approximately $1,753,000.
• Halliburton recently announced a quarterly dividend of $0.17 per share, yielding 3.1%, with a payout ratio of 31.78%.
• Despite a 5.5% decline in quarterly revenue year-over-year, Halliburton reported earnings per share of $0.55, matching analysts' expectations.

Truist Financial Corp decreased its position in shares of Halliburton Company (NYSE:HAL - Free Report) by 16.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,995 shares of the oilfield services company's stock after selling 16,814 shares during the period. Truist Financial Corp's holdings in Halliburton were worth $1,753,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its position in Halliburton by 8.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,870 shares of the oilfield services company's stock worth $174,000 after acquiring an additional 562 shares during the last quarter. Mediolanum International Funds Ltd lifted its position in Halliburton by 0.8% during the 1st quarter. Mediolanum International Funds Ltd now owns 72,381 shares of the oilfield services company's stock worth $1,815,000 after acquiring an additional 584 shares during the last quarter. Hills Bank & Trust Co lifted its position in Halliburton by 1.6% during the 1st quarter. Hills Bank & Trust Co now owns 38,733 shares of the oilfield services company's stock worth $983,000 after acquiring an additional 595 shares during the last quarter. AE Wealth Management LLC lifted its position in Halliburton by 5.1% during the 1st quarter. AE Wealth Management LLC now owns 12,469 shares of the oilfield services company's stock worth $316,000 after acquiring an additional 605 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. lifted its position in Halliburton by 3.7% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 17,181 shares of the oilfield services company's stock worth $436,000 after acquiring an additional 614 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Price Performance

Shares of Halliburton stock opened at $22.01 on Friday. The firm has a market cap of $18.76 billion, a P/E ratio of 10.28 and a beta of 1.02. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. The firm's 50-day simple moving average is $22.53 and its 200-day simple moving average is $21.77.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The company's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. As a group, research analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton's dividend payout ratio is currently 31.78%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HAL shares. Royal Bank Of Canada cut their target price on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Zephirin Group boosted their price objective on shares of Halliburton from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Piper Sandler downgraded shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a report on Monday, July 28th. Susquehanna dropped their price objective on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Finally, Stifel Nicolaus dropped their price objective on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.95.

Halliburton Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.

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